Modernization and dependency: Alternative perspectives in the study of latin American underdevelopment

Abstract

This chapter contrasts the modernization and dependency perspectives. Since the main notions of modernization theory have been covered in some detail in earlier chapters, only those portions of the Valenzuelas’ discussion that elaborate on dependency theory are included here. The Valenzuelas enumerate the principal assumptions held by dependency thinkers and present some of the supporting evidence for the theory’s validity, drawing upon the Latin American experience. After evaluating the relative merits of the two perspectives, they conclude that dependency is the superior framework primarily because it is firmly grounded in historical reality.